Blevins - Ch 5 Transactions that effect revenue, expenses, and withdrawals
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| Capital Accounts | Shows the amount of the owner's investment, or equity, in a business.
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| Revenue Accounts | Record Business income only
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| Temporary Capital Accounts | Are used to record information for only one accounting period
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| Expense Accounts | Are used to record the costs and services used by a business.
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| Revenue Recognition Principle | Recognizing and recording revenue on the date it is earned even if cash has not been received on that date.
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| Withdrawal | An amount of money taken out of the business by the owner.
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| Permanent Accounts | Accounts that are used to record information continuosly from one accounting period to the next
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